Farm equipment dealer Hoober Inc. plans a $3 million expansion with a boost from a low-interest loan from the Pennsylvania Industrial Development Authority.

Leacock Township-based Hoober plans to construct a 22,400-sq.-ft. free standing building directly adjacent to its existing 51,580-sq.-ft. facility located at 3452 Old Philadelphia Pike.

Hoober was approved by PIDA for a 15-year $1.5 million loan at a 1.5 percent interest rate. The loan is through the Lancaster County Economic Development Finance Corporation. Officials said the project will retain 86 jobs within three years.

Hoober's project also will include upgrades and site improvements to the existing building and will add a connection between the two structures resulting in a new entrance, offices, restrooms and a meeting room. The total project cost is $3.06 million.

Last year, Hoober, a farm, construction and grounds-care equipment dealer, acquired the assets of a Virginia equipment dealer for an undisclosed price. It bought the assets of Dubberly Tractor & Equipment in Chester, a Kubota dealer south of Richmond. All six Dubberly employees joined Hoober. The company has 10 locations in Virginia, Maryland and Pennsylvania.

Founded in 1941 by Charles "Bud" Hoober in Intercourse, the third-generation family-owned dealership has more than 350 employees.

It celebrated its 80th anniversary last year at a tractor pull featuring Red Fever, a 1972 International Harvester 1066, in an exhibition pull July 24 at Buck Motorsports Park.

This story also appears on Agricultural Equipment Guide.